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Glenridge LLC Acquires Multifamily Portfolio In Pittsfield, MA For $5.2M

Property Image
SOLD
$5,200,000
Tim McGeary
Taylor Perun

Massachusetts

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MultiFamily65,700 SF
Sold 10/26/2022
the dealplayerscompscontact
Property Image
SOLD

Glenridge LLC Acquires Multifamily Portfolio In Pittsfield, MA For $5.2M

3 Orchard St, Pittsfield, MA 01201

See Similar Deals
MultiFamily65,700 SF
Sold 10/26/2022
Tim McGeary
Taylor Perun
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$79
Total Square Footage:65,700 SF
Transaction Type:Sale

The multifamily property located at 3, 11, 13, 15 & 21 Orchard Street; 14 & 18 Kent Street; and 154, 156, 164, 172 & 174 Summer Street in Pittsfield, MA has been sold. The transaction took place on October 26, 2022.

Summary of transaction details

Glenridge LLC purchased the property from Bellco Realty. The deal was facilitated by Taylor Perun and Tim McGeary from Northeast Private Client Group, who represented the buyer and seller respectively.

Players

Taylor Perun
NorthEast Private Client Group
Taylor Perun
16 deals$162.5M volume
BROKER
Tim McGeary
NorthEast Private Client Group
Tim McGeary
15 deals$67.8M volume
BROKER

Details

SOLD
IMAGE: Taylor Perun & Tim McGeary DATE: 10/26/2022 ADDRESS: 3,11,13,15 & 21 Orchard Street; 14 & 18 Kent Street; & 154,156,164,172 & 174 Summer Street MARKET: Pittsfield, MA ASSET TYPE: Multifamily BUYER: Glenridge LLC SELLER: Bellco Realty BROKERS: Taylor Perun & Tim McGeary - Northeast Private Client Group (@NortheastPCG) SALE PRICE: $5,200,000 SF: 65,700 ~ PPSF: $79

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$277,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$18,474.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,650.65
Annual Debt Service$295,807.83